Required information The following information applies to the questions displayed below The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5 Ace, Capital $150, 800 Jack, Capital Spade, Capital 200, 400 120, 400 The partners allocate partnership income and loss in the ratio 20:30.50, respectively Required: Record Spade's withdrawal under each of the following independent situations nces d. Spade received $60,300 of cash and partnership land with a fair value of $120,500. The carrying amount of the land on the partnership books was $101,500 Capital of the partnership after Spade's retirement was $309,800. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A B Record the revaluation of land. Required information S of 7 (The following information applies to the questions displayed below The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5 Ace, Capital $150, 800 Jack, Capital Spade, Capital 200,400 eBook 120,400 Prit The partners allocate partnership income and loss in the ratio 20.30.50, respectively Required: Record Spade's withdrawal under each of the following independent situations Reterences e. Spade received $151,900 of partnership cash upon retirement. The partnership recorded the portion of goodwis attributable to Spade. (f no entry is required for e transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet